Binomial probability
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1. The amounts of money requested on home loan applications at Federal Savings follow the normal distribution, with a mean of $270,000 and a standard deviation of $35,000. A loan application is received this morning. What is the probability:
a. The amount requested is $270,000 or more?
b. The amount requested is $300,000 or more?
c. The amount requested is between $265,000 and $365,000?
d. The amount requested is $365,000 or more?
2. Suppose 1.5 percent of the antennas on new Nokia cell phones are defective. For a random sample of 10 antennas, use the binomial distribution to find the probability that:
a. None of the antennas is defective.
b. Three or more of the antennas are defective.
c. At most 3 are defective.
d. All 10 antennas are defective.
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Solution Summary
The solution provides step by step method for the calculation of binomial probability. Formula for the calculation and Interpretations of the results are also included.
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